Apollo Pipes Ltd Q1FY22 Result First-Cut - YES Securities

CMP: Rs 1,199 (Rating: Under Review)

- Sales stood at Rs 1,376 Mn in Q1FY22 reporting a growth of 49% y/y, majorly on account of higher realization of Rs132/kg as against Rs87/kg in Q1FY21. As compared to Q4FY21, performance was impacted due to regional lockdowns, Hence sales in Q1FY22 declined by 21% q/q (volumes/realizations degrew by 20%/1.5% respectively over similar period)

- Volumes for quarter stood at 10,402 MT, a decline of 2.2% y/y & 20% q/q.

- EBITDA margins came in at 12.7% in Q1FY22 Vs 6.7%/15.5% in Q1FY21/Q4FY21 respectively. Sequentially operating profit margins contracted due to higher employee cost as%sales (stood at 6.3% Vs 4.9% in Q4FY21) and higher other cost as%sales which came in at 9.4% as compared to 7.3% in Q4FY21. EBITDA stood at Rs174.5 Mn, reporting a sequential degrowth of 35.5%.

- Net profit for the quarter stood at Rs87.5 Mn registering a degrowth of 47.3% q/q.

Shares of Apollo Pipes Ltd was last trading in BSE at Rs. 1164.5 as compared to the previous close of Rs. 1197.95. The total number of shares traded during the day was 14124 in over 1177 trades.

The stock hit an intraday high of Rs. 1199 and intraday low of 1154. The net turnover during the day was Rs. 16523483.

Source : Equity Bulls

Keywords